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Azora holds second closing of flagship U.S. multifamily fund, launches its first Spanish-regulated vehicle
Azora has completed a second closing of its flagship U.S. multifamily fund, ONE Azora Exan Multifamily Fund I, and announced the vehicle’s fourth acquisition.
Fund I was launched in April 2022 and has an investment objective of $650 million, with an investment horizon of three years. The fund, which focuses on market-rent apartments in the Sunbelt, has purchased Elite Crossing, a 210-home garden-style asset located in an attractive submarket of Decatur, a suburb of Atlanta.
Elite Crossing offers residents a wide variety of common areas that include a swimming pool, a gym, a basketball court and a clubhouse. This is the second property Azora manages in Atlanta — a top 10 U.S. metropolitan area with a population of approximately 6.1 million and an annual growth of more than 77,000 inhabitants per year for the past 10 years.
Azora’s value-add U.S. multifamily fund has invested more than $170 million to date and manages more than 1,000 market-rent multifamily